StealthGas Stock

StealthGas Inc., together with its subsidiaries, owns a fleet of liquefied petroleum gas (LPG) carriers providing international seaborne transportation services to LPG producers and users.

The company's LPG carriers carry various petroleum gas products in liquefied form, including propane, butane, butadiene, isopropane, propylene and vinyl chloride monomer, which are all byproducts of the production of crude oil and natural gas. The company has established a reputation as a safe, cost-efficient operator of modern and well-maintained LPG carriers. On occasions the company charters-in vessels to supplement its own fleet and employ them both on time charters and voyage charters. The company is managed by Stealth Maritime.

As of April 4, 2023, the company's fleet consisted of 36 LPG carriers, including five JV vessels, with an average age of 9.2 years, as well as two 40,000 cbm LPG carrier newbuildings under construction and one 40,000 cbm LPG carrier newbuilding under construction owned by its JV, in which the company has a 51.0% interest.

Commercial and Technical Management of Fleet

The company has a management agreement with Stealth Maritime, pursuant to which Stealth Maritime provides the company with technical, administrative, commercial and certain other services. Stealth Maritime is a leading ship-management company to provide shipping companies with a range of services. In relation to the technical services, Stealth Maritime is responsible for arranging for the crewing of the vessels, the day to day operations, inspections and vetting, maintenance, repairs, dry-docking and insurance. Administrative functions include, but are not limited to accounting, back-office, reporting, legal and secretarial services. In addition, Stealth Maritime provides services for the chartering of the company's vessels and monitoring thereof, freight collection, and sale and purchase.

Customers

Principal charterers include producers of LPG products, such as national, major and other independent energy companies and energy traders, and industrial users of those products. In addition, vessels under bareboat charter may be sub-chartered to third parties.

Environmental and Other Regulations

The company's vessels are subject to standards imposed by the International Maritime Organization (IMO).

The operation of the company's vessels is also affected by the requirements set forth in the International Management Code for the Safe Operation of Ships and Pollution Prevention (ISM Code) of the IMO.

The operations of the company's product carriers are subject to compliance with the IMO's International Code for the Construction and Equipment of Ships carrying Dangerous Chemicals in Bulk (IBC Code) for chemical tankers built after July 1, 1986.

Both the United States Oil Pollution Act of 1990 (OPA) and the U.S. Comprehensive Environmental Response, Compensation, and Liability Act (CERCLA) impact the company's operations.

Under the U.S. Environmental Protection Agency (EPA) regulations, the company is required to obtain the U.S. Clean Water Act (CWA) permit to discharge ballast water and other wastewaters incidental to the normal operation of its vessels if the company operates within the three mile territorial waters or inland waters of the United States.

All the company's vessels are certified as being 'in class' by a classification society member of the International Association of Classification Societies, such as Lloyds Register of Shipping, Bureau Veritas, American Bureau of Shipping, and Nippon Kaiji Kyokai.

History

StealthGas Inc. was founded in 2004. The company was incorporated in 2004 in the Republic of the Marshall Islands.